Best social media for business: Choosing platforms wisely

Ever feel like you're drowning in a sea of multiple platforms, wondering which ones are worth your time and energy? By strategising where and when your business shows up online, you can quickly get yourself back to dry land. With that in mind, let's talk about the best social media platform for your business!

According to the Sprout Social Index, Facebook, YouTube, and Instagram are stealing the spotlight as consumers' go-to social media platforms in the year ahead. But hold onto your hashtags because it's not a one-size-fits-all situation. Demographics like age and interests are shaking things up, adding layers to the social media game.

With TikTok's rise and messaging apps evolving faster than you can say "Snapchat," the digital landscape is a wild ride. To stay ahead of the curve, you've gotta keep your finger on the pulse of both the newbies and the classics. So whether you're a marketer looking to spruce up your social media marketing strategy or a business owner looking to get the lay of the land of the best social media platforms, let's explore.

Top social media platforms to boost your social media strategy

Let's do a deep dive into some of the best social media platforms for businesses worldwide. We've got the older (but still huge) platforms and the awesome newbies, and one is even the second-largest search engine out there.

Instagram

Imagine a place where hearts, comments, and shares rule the scene. We're talking about Instagram, the ultimate playground that's reeling in a mind-blowing 2.35 billion monthly active users – yeah, you read that right!

In the world of retail, Instagram isn't just a social platform – it's a shopping haven with stats that speak volumes. Instagram has become apocket-sized marketplace with over 130 million savvy shoppers transforming taps into real-life purchases [1]. From fashion finds to dreamy home decor, desires materialize at the touch of a button. But that's not all. The secret to boosting sales? Collection ads. These virtual storefronts within your feed increase conversions by more than 6% [2]. Each tap is a potential purchase, guiding users toward products that catch their eye and imagination.

Whatabout hospitality business owners, you may ask? According to Revenue Hub, a staggering 97% of millennials share their travel experiences on social media, and 71% of travel agencies report significantly improved consumer engagement when committed to a robust social media strategy. Additionally, nearly half of diners choose to explore a restaurant for the first time after encountering it on their social feeds [3]. 

Stats for your Instagram Business platform:

• Instagram is the #1 social media platform for people to connect with brands [4].
• 35% of Instagram users made purchases on the platform in 2023 [5].
• 90% of Instagram users follow a business profile [6].

PSTT... Check out our restaurant Instagram story ideas for some fun story ideas for your business pages.

Facebook

Next, we're diving into Facebook, the powerhouse social media site boasting a staggering 2.96 billion monthly users worldwide [7].

In the realm of commerce, Facebook isn't just another social space. It's a dynamic marketplace teeming with opportunity. With its expansive reach, businesses can tap into a vast pool of potential customers eager to engage and connect. From cozy coffee shops to bustling boutiques, Facebook serves as the digital storefront where brands showcase their offerings and forge meaningful connections with their audience.

But let's talk numbers – because who doesn't love a good stat? According to the latest data, 54.9% of Facebook users follow or research brands and products on the platform [8]. With the rise of Facebook Marketplace, the platform has evolved into a bustling marketplace where users can buy, sell, and discover items within their local community.

Now, your target audience plays a massive part here because more Gen Zs are leaving Facebook every day. According to a recent stat, 25% plan to spend less time on the app. However, if your key demographic is 25 -34 years old, you're in luck. This group has a big social media presence. They made up Facebook's biggest audience, accounting for 17.6% of global users [9].

TikTok

In today's digital landscape, where social media reigns supreme, one platform has captivated the world with its mesmerizing content and colossal user base. Enter TikTok, the newest platform coming to the social media scene boasting an astounding 1 billion users worldwide [10].

According to a recent survey, an astonishing 36% of TikTok users have visited or ordered food from a hospitality business after seeing it on the platform [11]. That's a significant number of potential customers eagerly awaiting to discover your business! TikTok is also revolutionizing the retail landscape; the numbers speak for themselves. In the first half of 2022 alone, in-app spending on TikTok surged by an incredible 85%, reaching a staggering $1.7 billion [12]. This remarkable growth is a testament to the platform's power in driving sales and generating revenue.

Plus, with most of its users being millennials and Gen Z, TikTok offers a golden opportunity to connect with the younger, tech-savvy crowd. Get this: as of October 2023, nearly 20% of TikTok's global audience were women aged 18-24, with a similar percentage of guys in the same age range tuning in [13]. If you're looking to charm the socks off the younger crowd, TikTok's where it's at!

TIP: Check out our How to use TikTok for business for more on this brilliant platform!

LinkedIn

Ready to talk business? Let's dive into the world of LinkedIn—the top professional platform that's home to over one billion members from 200 countries and regions worldwide [14].

LinkedIn is your ultimate playground if you're in the game of networking and career growth. And guess what? It's not just a place to flaunt your resume; it's a goldmine for connecting, collaborating, and making moves in your industry.

But hold onto your briefcases, because the stats speak for themselves. Marketers are seeing up to 2x higher conversion rates on LinkedIn compared to other platforms [15].

But here's the real kicker: 40% of B2B marketers surveyed indicated LinkedIn as the most effective channel for driving high-quality leads. That's right, folks—LinkedIn is about sealing the deal and driving real results for your business [16].

So whether you're looking to expand your professional network, showcase your expertise, or land that dream job, LinkedIn has got your back. With its widereach, robust features, and undeniable impact on the professional world, LinkedIn is where business gets done.

X (formerly known as Twitter)

Step into the dynamic world of X, a bustling hub with a staggering 1.3 billion active monthly users [17].

For you, the ambitious small or medium-sized business owner eager to harness this platform's boundless potential, your quest to understand this noteworthy social media platform ends here. This is your comprehensive guide to navigating the Twitter-sphere and skyrocketing your business.

X users are 36% more likely to be the first to try new things. So, if you're ready to embrace innovation, you're in good company. They're also 2x more likely to have made an in-app purchase. That's a big win for your business if you want to boost online sales. And here's the kicker – X users are 38% more likely to have downloaded an app directly from an online ad. That means your app promotions have a higher chance of success [18].

Youtube

With over 2.7 billion logged-in monthly users [19], YouTube is a global phenomenon that has revolutionized the way we consume media (it's also the second-largest search engine after Google)

But hold onto your seats because we're about to explore a groundbreaking feature that's taking the YouTube community by storm – YouTube Shorts. Picture this: short, snappy videos that pack a punch in under 60 seconds. That's the magic of YouTube Shorts. Whether you're a creator looking to share bite-sized content or a viewer craving quick entertainment, Shorts offers a whole new way to experience YouTube.

So, why should businesses care about YouTube Shorts? Well, let's break it down: First off, Shorts are designed for mobile viewing, making them perfect for audiences on the go. With vertical format videos optimized for smartphones, Shorts seamlessly integrate into your daily scrolling routine. But it's not just about convenience – Shorts are all about creativity and spontaneity. From lip-syncing challenges to DIY tutorials, the possibilities are endless. And with features like music and text overlays, creators can add their personal flair to every Short.

But here's the best part – Shorts have the potential to skyrocket your reach and engagement on YouTube. In fact, YouTube Shorts are growing 135% year over year and have over 1.5 billion monthly users [20]. With the Shorts shelf prominently featured on the YouTube app homepage, your Shorts have the chance to be discovered by millions of viewers worldwide.

How can a POS help you with social media platforms?

In today's digital age, integrating your point of sale (POS) system with your social media strategy and payment processing can be a game-changer for your business. Here's how:

• Streamlined customer data collection: A modern POS system allows you to gather valuable customer data during transactions, including email addresses, purchase history, and even social media handles if customers opt-in. With this information at your fingertips, you can effectively tailor your social media marketing efforts to target specific customer segments. Additionally, integrating payment processing into your POS system ensures seamless transactions, providing a smoother overall customer experience.
• Seamless integration with social media platforms: Many POS systems offer integrations with popular social media platforms like Facebook, Instagram, and Twitter. This integration enables you to sync your POS data with your social media accounts, making it easier to track sales generated from social media campaigns and measure their effectiveness. Simultaneously, incorporating payment processing within your POS system ensures secure and efficient transactions.
• Targeted advertising: You can create highly targeted social media advertising campaigns by leveraging the customer data collected through your POS system. Whether you want to reach existing customers with personalized offers or attract new customers based on their demographics and interests, a POS-enabled approach to social media advertising can help you maximize your ROI. This integrated approach also extends to payment processing, providing customers with convenient and secure payment options.
• Real-time insights and analytics: Monitoring the performance of your social media campaigns is crucial for optimizing your strategy and maximizing your results. A POS-integrated social media tool provides real-time insights and analytics, allowing you to track key metrics such as engagement, conversion rates, and return on ad spend (ROAS). Integrated payment processing data can also be analyzed in real time, providing a comprehensive view of your business performance.

Liked this blog? Check out our additional social media resources for more, including our how to master instagram for your retail business and Facebook business suite for small businesses blog.